Washington Editor, Reuters Professional News, Washington
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Jul 15, 2014

Fed’s Yellen says U.S. recovery incomplete, defends loose policy

WASHINGTON (Reuters) – The U.S. economic recovery remains incomplete, with a still-ailing job market and stagnant wages justifying loose monetary policy for the foreseeable future, Federal Reserve Chair Janet Yellen told a Senate committee on Tuesday.

In a strong defense of the central bank’s current stance, Yellen said that early signs of a pickup in inflation aren’t enough for the Fed to accelerate its plans for raising interest rates, a move currently expected in the middle of next year.

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    • About Howard

      "I run Reuters Washington news coverage for our clients in the tax, accounting and legal professions, having also reported from the Middle East for nearly 18 years, run the Reuters political and general news desk for Europe, the Middle East and Africa from London and taken charge of political and general news coverage in Washington, D.C."
      Joined Reuters:
      1985
      Awards:
      Chairman, FPA, Jerusalem
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